Exhibit 12
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
| Year Ended September 30, | Nine Months Ended June 30 | ||||||||||||||||||||
(in thousands) | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | |||||||||||||||
Fixed Charges Computation | |||||||||||||||||||||
Interest expensed and capitalized (1) | $ | 49,043 | $ | 35,119 | $ | 29,671 | $ | 23,205 | $ | 34,458 | $ | 40,544 | |||||||||
Amortized premiums, discounts, and capitalized expenses related to indebtedness | 10,634 | 2,843 | 5,318 | 2,773 | 6,386 | 11,960 | |||||||||||||||
Reasonable approximation of interest within rental expense | 2,433 | 3,092 | 3,440 | 3,499 | 3,919 | 3,073 | |||||||||||||||
Total Fixed Charges and Preferred Equity Dividends | $ | 62,110 | $ | 41,054 | $ | 38,429 | $ | 29,477 | $ | 44,763 | $ | 55,577 | |||||||||
Earnings Computation | |||||||||||||||||||||
Pre-tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees | $ | 163,808 | $ | 137,816 | $ | 59,236 | $ | (161,874 | ) | $ | (502,272 | ) | $ | (60,938 | ) | ||||||
Plus | |||||||||||||||||||||
Fixed charges | 62,110 | 41,054 | 38,429 | 29,477 | 44,763 | 55,577 | |||||||||||||||
Minus | |||||||||||||||||||||
Interest capitalized | 464 | 1,027 | 784 | 894 | 1,396 | 389 | |||||||||||||||
Total Earnings | $ | 225,454 | $ | 177,843 | $ | 96,881 | $ | (133,291 | ) | $ | (458,905 | ) | $ | (5,750 | ) | ||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends | 3.63 | 4.33 | 2.52 | N/A | * | N/A | * | N/A | * | ||||||||||||
| * | Total earnings for these periods were less than zero dollars. The deficiency of earnings to fixed charges for the year ended September 30, 2008 was $162.8 million, the deficiency of earnings to fixed charges for the year ended September 30, 2009 was $503.7 million and the deficiency of earnings to fixed charges for the nine months ended June 30, 2010 was $61.3 million. |
| (1) | Interest expense associated with unrecognized tax benefits is included in income tax expense, not with interest expense. |